The Bank of Tanzania (BoT) has disclosed that Kenyan banks operating in Tanzania saw a substantial 74.7% rise in pre-tax earnings. Their combined revenue reached TSh91.4 billion for the review period, up from TSh52.3 billion in the same period last year.
According to BoT data, the Kenyan banks with the highest earnings, which together operate 76 branches in Tanzania, include Equity Bank Tanzania, DTB Tanzania, NCBA Tanzania, and I&M Tanzania. The increase in revenue for these banks is attributed to the deflation and improvement in asset quality within Tanzania.
As of May, Tanzania’s inflation rate was 3.1%, and the ratio of non-performing loans stood at 4.4%, below the 5% threshold deemed ‘tolerable’ by the Bank of Tanzania. In contrast, Kenya’s ratio of non-performing loans is 15%.
Here are the best-performing Kenyan banks in Tanzania for the first half of 2024.
